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'Fast Money' Recap: Dollar Rising

The trading panel discussed the rising strength of the dollar and commodities.
Author:

NEW YORK (

TheStreet

) -- The dollar continued to moved higher Thursday as the euro weakens.

Gary Kaminsky said on

CNBC

's "Fast Money Halftime Report" that the euro will continue to slide as the focus shifts next week from Greece to other troubled European economies. As a result, he says the dollar will continue to rise.

Guy Adami agreed, saying the dollar is going to head higher, though he expressed worries about commodities, which he said could "unravel."

For a breakout of some stocks from a recent "Fast Money" TV show,check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw onTV

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Joe Terranova said investors should focus on oil and copper, which are very strong today. He noted the week after Chinese New Year, which ends this week, is typically a restocking period in China for commodities.

Terranova warned about the gold trade, saying it's the "one commodity that could implode on you in a downside move."

Kaminsky said he was shorting the European banks through the

iShares Trust

(EUFN) - Get Report

and going long on

UltraShort MSCI Europe ProShares

(EPV) - Get Report

.

Melissa Lee, the moderator of the show, brought in John Lechleiter, CEO of

Eli Lilly

(LLY) - Get Report

to talk about his company, which has come under some pricing pressure.

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Lechleiter deflected questions about possible acquisition targets and instead stressed the company's push to create more movement in its drug pipeline to offset expiring drug patents in the coming years.

He said he remained confident the prospects of Effient, the company's blood thinner, in the face of increasing competition. Asked by Lee about the possibility of acquiring

Amylin Pharmaceuticals

(AMLN)

, he said the company enjoys its existing relationship with it as a partner.

Lee then brought in Carl Icahn, the legendary investor, who has a 9% stake in Amylin. He declined to say whether Eli Lilly should buy Amylin but he did say generally speaking big pharma doesn't have much biologics and a marriage of some sort should take place.

Icahn, who has initiated a tender offer for 30% of the outstanding shares of

Lionsgate

(LGF)

said he has no interest in controlling the company. He said the company should stick with what it knows best: buying independent films and distributing them and producing television shows.

Icahn, who also has a stake in

Genzyme

(GENZ)

said the company isn't well managed and shouldn't be surprised to see some action from him shortly.

-- Written by David Tong in San Francisco

To watch replays of Cramer's video segments, visit the Mad Money page onCNBC

.

"Check out

"'Fast Money'Portfolios of the Week" on Stockpickr every Thursday.

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